# newly married: how to pay off mortgage, add hubby to deed **URL:** \ **Category:** In My Humble Opinion\ **Created:** [June 2, 2017, 12:37am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899 "2017-06-02T00:37:35Z")\ **Posts on this page:** 11\ **Page:** 1
**Author:** ![octavia](https://avatars.discourse-cdn.com/v4/letter/o/f1d935/32.png) [@octavia](https://boards.straightdope.com/u/octavia)\ **Post date:** [June 2, 2017, 12:37am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/1 "2017-06-02T00:37:35Z")
This is a great problem to have! Just got married, we are living in my house and new husband just sold his house. So now we have the $$ to pay of $80K balance of mortgage of my house in TX. Wondering what is the best way to pay off mortgage in full and also add him to the deed? We will likely do “Joint Tenancy with Right of Survivorship” before the end of the year, when he does his new will with attorney. 1. If he pays off mortgage - will this trigger a tax or other problem (e.g. “gift tax”) since he is not listed on the mortgage? 2. Otherwise, what is correct order of operation? Pay off mtg first then add to deed? Or vice versa? 3. If I ask Wells Fargo, will inquiries cause red flags of some sort? Appreciate any thoughts! thx Octavia ---
**Author:** ![PastTense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pasttense/32/14550_2.png) [@PastTense](https://boards.straightdope.com/u/PastTense)\ **Post date:** [June 2, 2017, 12:56am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/2 "2017-06-02T00:56:20Z")
> [@](#): > > The only person you can give a gift to that is exempt from the gift tax is your spouse. Gifts to your spouse qualify for the marital deduction. [https://www.irs.com/articles/7-things-you-should-know-about-gift-tax](https://www.irs.com/articles/7-things-you-should-know-about-gift-tax) So there are no gift tax problems. I would expect there might be problems with the mortgage holder if there are changes in the deed without their permission so pay the mortgage off first. ---
**Author:** ![Isilder](https://avatars.discourse-cdn.com/v4/letter/i/cc9497/32.png) [@Isilder](https://boards.straightdope.com/u/Isilder)\ **Post date:** [June 2, 2017, 1:07am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/3 "2017-06-02T01:07:08Z")
> [@PastTense](#): > > I would expect there might be problems with the mortgage holder if there are changes in the deed without their permission so pay the mortgage off first. Well they won’t get the deed changed without the mortgage holder’s approval, and basically they will saying the way its done is to establish a new mortgage with, establishment fees and taxes. So clearly pay off mortgage first … get the title deed cleared of any mention of a mortgage holder, and then you can apply to add names on the deed. ---
**Author:** ![mixdenny](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mixdenny/32/2962_2.png) [@mixdenny](https://boards.straightdope.com/u/mixdenny)\ **Post date:** [June 2, 2017, 2:34am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/4 "2017-06-02T02:34:47Z")
I have changed deed details a few times, and would agree that it is easiest to pay off the mortgage, then contact the county and see what options you have. There are many kinds of deeds. If you want to clearly own the house yourself unless you are deceased, you can get a “Transfer on Death” Deed to minimize probate hassles. That’s what I have. That may be similar to the “joint tenancy” you mentioned, but a Transfer on Death deed keeps a spouse’s finances separate from the deed holder’s. i.e., if the spouse incurs large debts, they cannot place a lien on the home. This is similar to the Ohio law pertaining to automobiles. When the owner dies, the spouse may transfer up to 2 vehicles into their name without going through probate. This overrides a will. Just take a death certificate to the title bureau, the clerk makes the transfer right then. Dennis ---
**Author:** ![Clothahump](https://avatars.discourse-cdn.com/v4/letter/c/51bf81/32.png) [@Clothahump](https://boards.straightdope.com/u/Clothahump)\ **Post date:** [June 2, 2017, 3:47am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/5 "2017-06-02T03:47:41Z")
Talk to whomever you are going to refinance with. Tell them you want to rework the deed and add hubby. We just refinanced and did this very thing, the bank took care of everything. ---
**Author:** ![PastTense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pasttense/32/14550_2.png) [@PastTense](https://boards.straightdope.com/u/PastTense)\ **Post date:** [June 2, 2017, 4:11am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/6 "2017-06-02T04:11:17Z")
Clothahump: The OP clearly said she was NOT going to refinance; the hubby got enough money from the sale of his house to pay off her mortgage. ---
**Author:** ![Colibri](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/colibri/32/1841_2.png) [@Colibri](https://boards.straightdope.com/u/Colibri)\ **Post date:** [June 2, 2017, 11:42am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/7 "2017-06-02T11:42:57Z")
Since the OP is looking for legal and financial advice, let’s move this to IMHO. Colibri General Questions Moderator ---
**Author:** ![muldoonthief](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/muldoonthief/32/3188_2.png) [@muldoonthief](https://boards.straightdope.com/u/muldoonthief)\ **Post date:** [June 2, 2017, 12:21pm UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/8 "2017-06-02T12:21:59Z")
Call a real estate lawyer. Seriously, changing a deed has enough potential landmines that it’s well worth a few hundred bucks to get a lawyer to draft it for you. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [June 2, 2017, 1:18pm UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/9 "2017-06-02T13:18:32Z")
> [@octavia](#): > > Appreciate any thoughts! OK, here’s a thought: Are you sure you want to pay off the mortgage? The interest is tax-deductible, and if the mortgage interest rate is modest, you’ll probably come out ahead in the long run if you take the proceeds from your husband’s house and invest it in a decent mutual fund. ---
**Author:** ![Nawth\_Chucka](https://avatars.discourse-cdn.com/v4/letter/n/c57346/32.png) [@Nawth\_Chucka](https://boards.straightdope.com/u/Nawth_Chucka)\ **Post date:** [June 3, 2017, 4:39am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/10 "2017-06-03T04:39:06Z")
> [@Machine\_Elf](#): > > OK, here’s a thought: > > Are you sure you want to pay off the mortgage? The interest is tax-deductible, and if the mortgage interest rate is modest, you’ll probably come out ahead in the long run if you take the proceeds from your husband’s house and invest it in a decent mutual fund. Especially b/c you pay less interest and more principal per payment the older your mortgage; toward the end it’s essentially treating your mortgage company as a service that pays your property taxes and other escrow items on your behalf for cheap. Oh, and Congratulations to you both! ---
**Author:** ![actualliberalnotoneofthose](https://avatars.discourse-cdn.com/v4/letter/a/e79b87/32.png) [@actualliberalnotoneofthose](https://boards.straightdope.com/u/actualliberalnotoneofthose)\ **Post date:** [June 4, 2017, 5:53am UTC](https://boards.straightdope.com/t/newly-married-how-to-pay-off-mortgage-add-hubby-to-deed/787899/11 "2017-06-04T05:53:03Z")
> [@Machine\_Elf](#): > > OK, here’s a thought: > > Are you sure you want to pay off the mortgage? The interest is tax-deductible, and if the mortgage interest rate is modest, you’ll probably come out ahead in the long run if you take the proceeds from your husband’s house and invest it in a decent mutual fund. This a wide YMMV. Might not be enough to itemize, no state income tax, and so on, but again YMMV. My first thought was: is HE sure he wants to pay off her mortgage?